In Order to Hire an Additional Worker, a Monopsony Must

question 30

Multiple Choice

In order to hire an additional worker, a monopsony must pay

• A) the same wage rate it paid before.
• B) a higher wage rate than it paid before.
• C) a lower wage rate than it paid before.
• D) a wage rate that is sometimes higher, sometimes lower and sometimes the same as before, depending on the elasticity of the supply of labour.

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Definitions:

Superior Mesenteric Vein

A large vein in the abdomen that drains blood from the small intestine, part of the large intestine, and other organs in the digestive system into the portal vein.

Gastrosplenic Vein

A blood vessel that drains blood from the stomach and spleen, typically emptying into the portal vein system.

Ulnar Veins

Veins located along the ulnar side of the arm that help return deoxygenated blood from the hand and forearm to the heart.

Radial Vein

A vein that runs along the radial side of the forearm, draining blood from the hand and arm back toward the heart.